Lou Burnett writes about politics in Louisiana. He is based in Shreveport, where a new convention center recently launched.
Lou’s Opinion column in his most recent e-newsletter highlights the importance of being careful about placing big bets in a soft market. Shreveport is now looking to beef up their hotel as a way to reduce the losses.
Opinion
Stop the Presses!
By Lou Gehrig Burnett
Bleeding albatross…
I hate to say I told you so…but I told you so. When then-Mayor Keith Hightower was pushing to build a convention center and hotel at taxpayer’s expense, I thought the project should have been put on hold. I was called a “naysayer.”
In the aftermath of the terrorist attacks of 9/11, the convention center business had changed. All the data showed that similar projects around the country were not succeeding and costing the taxpayers a bundle.
But these facts were ignored, and the convention center and hotel were pushed through the council on a series of 4-3 votes. The price tag to the taxpayers was about $150 million.
Just for the record, those four supportive council members were Monty Walford, James Green, Calvin Lester, and Theron Jackson. Walford and Lester are on the current council.
Now comes word that the project is not performing to expectations. Whose expectations? There were many of us who said all along that the project would be an albatross around the necks of city taxpayers. True, the convention center itself was never projected to be a money-maker.
But the expected amount the taxpayers would have to subsidize for the facility was touted at about $900,000 a year. For the year 2007, the financial loss for the convention center is projected at $2.2 million, which is $1.3 million more than we were told it was going to be. We don’t know yet how much of a burden the hotel will be upon the taxpayers.
We could advance support for the Medical Mart/Convention Center project with some detailed plans, reasonably presented.
This is the process Portland, OR is following. Portland is also considering a major hotel to strengthen its convention center.
Civic leaders are subjecting their options to intense scrutiny to build consensus. HQ hotel idea’s up for more debate.
It’s interesting to see how much information is being shared. You can learn more from the project web site’s overview, FAQs and project documents.
Note on the overview page this statement: “Metro and MERC are committed to a transparent and productive dialogue with interested parties from throughout the community”.